According to TrueFi’s credit dashboard, the leading cryptocurrency Market maker Wintermute has paid off its $96 million debt to decentralized finance (DeFi) protocol TrueFi nearly three weeks after it was hacked for $160 million.
Wintermute’s Cryptocurrency Loan Expires on October 15
The TrueFi loan was one of the company’s largest known loans to a DeFi lending platform. Wintermute received a $92 million loan over the TrueFi protocol from the USDT lending pool in April, which was due on October 15.
According to transaction data from blockchain data platform Nansen, Wintermute repaid its cryptocurrency loan with interest on Friday, one day before the due date.
The loan was unsecured, i.e. the borrower had no money against the loan. altcoin He did not pledge and secured the loan only by his financial standing and reputation. Market makers and trading firms often take out such loans for trading purposes.
Wintermute Victims of $160 Million Attack
The news comes after Wintermute’s DeFi operation suffered a $160 million hack in late September, one of the biggest hacks of recent months. At the time, Wintermute had $200 million in outstanding DeFi debt. The company’s CEO, Evgeny Gaevoy, said at the time that the company remained insolvent after the attack.
Earlier this week, Blockwater, a Korean trading firm, defaulted on a loan at TrueFi after it missed the payment of a $3.6 million loan. TrueFi reported that it had determined that “a potential court-supervised administrative action would lead to a better outcome” for the recovery of assets to lenders.
*Not investment advice.
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